>> Peter---you obviously have never played options on Q---I purchased a Jan 200 Call on Qualcomm, strike price 240 on the day of the last earnings report about 1/2 before close----I paid 18 3/4 or $1875 plus $27 in commissions: for a grand total of $1902-------that option, although I sold it already for a quick $10,000 profit----is now worth $22,750. So, please don't tell people not to do something which you obviously neither have done, nor understand.
OK, I've done it and I understand it, so I'll accept your suggestion to comment on it. The type of options play you just described is about as close to investing as Ripple is to Dom Perignon. You might as well head to Las Vegas and play craps and report back on the 6 passes you made.
Have you been doing this very long? The pro options players I know don't hold short term calls through an earnings report, as 2 out of 3 times they lose value. Did you think you knew something, or did you just feel lucky?
Peter's advice was sound, from an investor's point of view. Feel free to disregard it, but since you clearly don't understand it, don't knock it.
Prosperous investing,
uf |
